Corbin Banking Company (New York, NY)

Episode Information

Episode UID
8978782791287
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
897878279 hash
Start Date
March 28, 1907
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
63aab46ad9b9df2d

Response Measures

None

Description

Assignment for benefit of creditors (private bankers) reported; no reopening mentioned and bankruptcy petition/possible receiver noted.

Events (1)
1. March 28, 1907 Suspension
Cause
Voluntary Liquidation
Cause Details
Assigned for benefit of creditors due to inability to realize real estate and low prices of securities / maturing obligations
Newspaper Excerpt
The Corbin Banking Company today assigned for the benefit of its creditors
Source
newspapers

Newspaper Articles (20)
1. March 28, 1907 The Roswell Daily Record Roswell, NM
Article from The Roswell Daily Record, March 28, 1907

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CORBIN BANKING COMPANY. ASSIGNS TO CREDITORS. New York, Mar, 28,-The Corbin Banking Company today assigned for the benefit of its creditors to George C. Austin, The two members of the company ate George S. Edgell and Austin Corlia. At the ofice of the company it is stated that the assets exceed the liabilities by over a million dollars. The principal assets consist of valuable real estate which could not be sold except at a sacrifice in time to meet the maturing obligations. The creditors undoubtedly will be paid in full.

2. March 28, 1907 The Seattle Star Seattle, WA
Article from The Seattle Star, March 28, 1907

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FAILS NEW YORK, March 28.-The Corbin Banking Co., founded by the late Austin Corbin, Br., assigned for the benefit of the creditors today: The officials issued a statement saying that the assets will exceed the liabilities by $1,000,000. The suspension was forced by the low price on securities, It is said.

3. March 28, 1907 The Evening Statesman Walla Walla, WA
Article from The Evening Statesman, March 28, 1907

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BANKING COMPANY FAILS. New York Concern Loses In Decline of Its Securities. NEW YORK, Mch. 28.-The Corbin banking company founded by the late Austin Corbin, Sr., assigned for the benefit of creditors today and issued statements that the assets exceed the liabilities by one million. The suspension was forced by the |low price of securities, it is said.

4. March 28, 1907 The Spokane Press Spokane, WA
Article from The Spokane Press, March 28, 1907

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CORBIN BANK IS OVERCOME NEW YORK, March 28.-The Corbin Banking Co., founded by the late Austin Corbin, sr., assigned for the benefit of creditors today. According to a statement issued, the assets exceed liabilities by $1,000,000. The suspension was forced by the low price of securities. D. C. Corbin, head of the Corbin interests in the Northwest, this afternoon said that neither he nor Austin Corbin 2d ever had any connection with the Corbin Banking Co. The New York concern was founded by Austin Corbin, sr., who has been dead a number of years.

5. March 28, 1907 East Oregonian : E.O Pendleton, OR
Article from East Oregonian : E.O, March 28, 1907

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Corbin Company Goes Under. New York, March 28.-The Corbin Banking company, founded by the late Austin Corbin, sr., assigned for the benefit of its creditors today and issued a statement that its assets exceed its liabilities by $1,000,000. The suspension was forced by the low price of securities, it is said.

6. March 28, 1907 The Laramie Republican Laramie, WY
Article from The Laramie Republican, March 28, 1907

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CORBIN COMPANY CLOSES ITS DOORS BANKING CONCERN OF NEW YORK MAKES ASSIGNMENT FOR BENEFIT OF CREDITORS. Assets Said to Exceed Liabilities by Over Million Dollars, Much of Their Value in Real Estate Which Cannot Be Realized Upon Without Loss in Time to Benefit. New York, March 28.-The Corbin Banking company today assigned, for the benefit of its creditors, to George C. Austin. Two members of the company are George S. Edgell and Austin Corbin,

7. March 28, 1907 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, March 28, 1907

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BANK GOES UP Private Banking Concern of New York That Has Liabilities of $1,00,000 OWN HOTEL PROPERTY New York, March 28.-The Corbin Banking company to-day assigned for the benefit of creditors to George C. Austin. The two members of the company are George S. Edgel and Austin Corbin. Mr Edgell is president and Mr Corbin vice president of Manhattan Beach Hotel and Land company. At the office of the company the following statement was given out: "The Corbin Banking company is a firm of private bankers consisting of George S. Edgell and Austin Corbin. The assets exceed the liabilities by over $1,000,000. The principal assets consit of valuable real estate, which could not be sold, except at a sacrifice, in time to meet maturing obligations. The members of the firm deem it best for the creditors, therefore, that they should make an assignment. The creditors will undoubedly be paid in full." The Corbin Banking company was established by the late Austin Corbin, sr, who was for many years the controlling influence in the Long Island Railroad Co.

8. March 28, 1907 The Washington Times Washington, DC
Article from The Washington Times, March 28, 1907

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PRIVATE BANK FAILS IN NEW YORK CITY NEW YORK, March 28.-An assignment was made by the Corbin Banking Company today. The company had formerly done a large business in buying up tax titles, but recently it has had few transactions and has been endeavoring to wind up its affairs. George C. Austin, the assignee, states that the assets will exceed the liabilities by about a $1,000,000 dollars, and that the suspension is only of a temporary character, and was brought about by the fact that the securities were of such a character that they can not be realized on at the present time.

9. March 28, 1907 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, March 28, 1907

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BANKING COMPANY ASSIGN. Assets Exceed Liabilities Over One Million Dollars. By Associated Press. New York, March 28.-The Crobin Banking company today assigned for the benefit of its creditors, to George C. Austin. Two members of the company are George S. Edgell and Austin Corbin. Edgell is presiednt and Corbin vice president of the Manhattan Beach hotell and Land company. The company is a firm of private bankers. In a statement is is said the assets exceed the liabilities by over one million dollars. The principal assets consist of valuable real estate which could not be sold except at a sacrifice. The members deemed it best for the creditors therefore to assign. The creditors undoubtedly will be paid in full. The company was established by the late Austin Corbin, Sr., for many years in control of the Long Island railroad company.

10. March 29, 1907 New-York Tribune New York, NY
Article from New-York Tribune, March 29, 1907

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CORBIN ASSIGNS. FIRM Company Claims $1,000,000 Surplus -Assets in Real Estate. As the result, it is said, of the "calling" of large loans by banks and others, the Corbin Banking Company, of No. 192 Broadway. consisting of George S. Edgell and Austin Corbin, assigned yesterday for the benefit of creditors to George C. Austin. Late in the evening Mr. Austin told a Tribune reporter that conservative estimates placed the firm's assets at at least $2,700,000, and probably $3,000,000, to meet liabilities aggregating, he said, between $1,700,000 and $1,800,000. Mr. Austin added that the creditors would undoubtedly receive full payment. The Corbin Banking Company is a private firm of bankers, the principal assets. according to the assignee, being valuable real estate which could not be sold, except at a sacrifice, in time to meet maturing obligations. It was reported last night that several banks and foreign exchange houses had been hit by the assignment. which, moreover, caused a little uneasiness in Wall Street as the first failure of a large "real estating" banking firm for some time. The company, it is said, borrowed heavily abroad to work out its development plans at Manhattan Beach, Rockaway Park and elsewhere. On the other hand, Mr. Austin ascribed yesterday's assignment in part to the tightness of money caused by the recent Wall Street slump. Following the assignment came an involuntary petition in bankruptey filed with the clerk of the United States District Court against Messrs. Corbin and Edgell individually and as co-partners in the banking company. The petitioners are Isabelle H. Knott, of Denver; Alice H. Hill, of Los Angeles, and Alexander J. Shamburg, of this city. In explaining the reason for this petition in bankruptcy, Mr. Crocker. of De Fere, Crocker & Wickes, counsel for the petitioners, said that the very act of assignment constituted bankruptcy. The petitioners may ask for a receiver. Charles B. Hill represents the two women petitioners. The petitioners allege that the banking company owes more than $500,000. It is said that there are from 250 to 300 depositors in the bank. the deposits aggregating between $250,000 and $300,000 One of the heavlest creditors is the Title Guarantee and Trust Company, of Brooklyn. The trust company holds a first mortgage for $1,000,000 on the banking company's Manhattan Beach property and another against the Rockaway property. Frank Bailey. the vice-president of the trust company, said last night that its loans to the firm were "amply secured." He said that thus far the trust company had advanced only $600,000 on the $1,000,000 mortgage on the Manhattan Beach property. That mortgage, Mr. Bailey said, covered also the Manhattan Beach and Oriental hotels. The trust company, he said, would not hesitate. If need be, to advance the other $400,000 for the firm's development project If the 325 acres of land were to be cut up into city building lets, for instance, and sold at $500 a lot, a ridiculously low figure, the returns would amount to $2,000,000. Mr. Bailey intimated that the $1,000,000 mortgage on the property was worth nearly $3,000,000. including two and one-half miles of valuable waterfronts. The Rockaway mortgage loan represented. he said, the remainder of a $150,000 mortgage the trust company had previously held on this property, and the loan was protected ten times over. Mr. Austin said that the property at Manhattan Beach and Rockaway was worth fully $8,000,000. but that, under existing conditions, It could not be sold for $1,500,000. The firm, he said. had other valuable real estate in the South and West, but this could not be sold because of the present loans and contracts involved. A man in touch with the firm's affairs gave an estimate of the firm's assets which was somewhat larger than the other estimates. He figured the assets as follows: $8,000,000 Manhattan Beach property 900,000 Rockaway property 250.000 Property in South and West Cash in banks 200,000 It is said that $400,000 is still due to Mr. Corbin from his father's estate. and that this, in addition to his private fortune, may be used. if necessary, in a settlement with creditors. Mr. Crocker said that his firm represented creditors other than depositors. He said that if the firm showed a. disposition to meet its obligations his clients "would not push matters to an extreme." Austin Corbin is the son of the late Austin Corhin. the projector of the Long Island Railroad, and Mr. Edgell is Mr. Corbin, sr.'s. son-in-law. It is understood that the banking company owned two or three Manhattan Beach companies, and that about a year ago there was a default in interest on the bonds of one of them which resulted in fore. closure proceedings. The property was sold through a friendly receivership, and in this way was returned to the original interests. Mr. Corbin. according to the Directory of DIrectors. is the president of the Rockaway Park Improvement Company: vice president of the Atlantic Brass Company. director of the Coal and Iron National Bank. vice president of the Manhattan

11. March 29, 1907 Watertown Weekly Leader Watertown, WI
Article from Watertown Weekly Leader, March 29, 1907

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NEW YORK BANK CLOSED. Corbin Banking Company Assigns for the Benefit of Creditors. New York, March 29.-The Corbin banking company Thursday assigned for the benefit of creditors to George C. Austin. The two members of the company are George S. Edgell and Austin Corbin. Edgell is president and Corbin vice president of the Manhattan Beach Hotel and Land company. At the office of the company the following statement was given out: "The assets exceed the liabilities by more than $1,000,000. The principal assets consist of valuable real estate, which could not be sold, except at a sacrifice, in time to meet maturing obligations. The creditors will undoubtedly be paid in full." The Corbin Banking company was established by the late Austin Corbin, Sr., who was for many years the controlling influence in the Long Island Railroad company. Mr. Austin said a rough estimate placed the liabilities at $1,700,000, and the assets at $3,000,000.

12. March 29, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, March 29, 1907

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CORBIN BANKING COMPANY ASSIGNS NEW YORK FIRM, HOWEVER, WILL PAY IN FULL Assets Said to Exceed Liabilities by at Least $1,000,000-Valuable Real Estate Holdings Included in Former By Associated Press. NEW YORK, March 28.-The Corbin Banking company today assigned for the benefit of creditors to George C. Austin. The two members of the company are George S. Edgell and Austin Corbin. Mr. Edgell is president and Mr. Corbin vice president of the Manhattan Beach and Land company. At the office of the company the following statement was given out: "The Corbin Banking company is a firm of private bankers consisting of George E. Edgell and Austin Corbin. The assets exceed the liabilities by over $1,000,000. The principal assets consist of valuable real estate which could not be sold except at a sacrifice in time to meet maturing obligations. The members of the firm deemed it best for the creditors, therefore, that they should make an assignment. The creditors undoubtedly will be paid in full." The Corbin Banking company was established by the late Austin Corbin was for years Sr., who many the Island controlling influence in the Long Railroad company. A petition praying that Austin Corbin and George S. Edgell be declared bankrupt was filed in the United States court today. The petitioners are Isabelle H. Knott of Denver, Alice C. Hill of Los Angeles, and Alexander J. Shamburg of New York, depositors in the bank. Their petition is based on the ground that the making of an assignment was in violation of the bankruptcy act.

13. March 30, 1907 New-York Tribune New York, NY
Article from New-York Tribune, March 30, 1907

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TO AUDIT CORBIN BOOKS. Creditors Appoint Firm to Do So, with Assignee's Consent. With the consent of the assignee, creditors of the Corbin Banking Company, which assigned on Friday, appointed the auditing firm of Barron, Wade, Guthrie & Co. to examine the company's books. The creditors made the appointment at their meeting yesterday. and the auditing firm has begun work already on the books. At the meeting, it is understood, George C. Austin, the assignee assured the creditors, as well as the counsel for the petitioners, that the company would have $200,000 in cash by this morning. $60,000 of this being at present deposited in various banks in this country and about $134,000 being at present in banks abroad. Frank L. Crocker, counsel for the petitioners and others, said he would do nothing immediately on the question of asking for a receivership for the company. The creditors adjourned their meeting until Thursday. It was reported that the company had received an offer of $3,250,000 for its Manhattan Beach property. "The creditors are satisfled with the condition of affairs." said Mr. Austin, who added, regarding the stock ticker in Austin Corbin's private office, that Mr. Corbin "never speculated." Regarding the company's reported purchase from two firms of bankers in this country of a £60,000 sterling demand draft, payable in London on the same day, but only a few hours before the company assigned. representatives of various banking firms in this city said that there was nothing unusual in such transactions. It is said that two well known banks, one an Asiatic, the other a Canadian, sold "cable transfers," aggregating £60,000, payable in London at the National Bank of Scotland to the credit of the Corbin Banking Company, the company receiving the money on Wednesday, the company's check in payment not reaching the offices here of the "selling" banking firm's representatives until after 3 p. m., too late to deposit the check. On Thursday. at the opening of the banking day, the Corbin company assigned, the assignment having been executed. It is believed. on Wednesday afternoon or evening. No creditor, however, or banking firm involved in any way in this transaction could be found yesterday who would say that there was even a suspicion of fraud in this transaction.

14. March 30, 1907 Seward Weekly Gateway Seward, AK
Article from Seward Weekly Gateway, March 30, 1907

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"Silent" Smith Dead. Tokio, March 28-James Henry Smith, the New York millionaire known as "Silent" Smith, died here today before the end of his honeymoon. He was married in New York less than a month ago and immediately started on a tour of the world. Hill Can Issue $60,000,000 Bonds St. Paul, March 28 - The state supreme court today decided in favor of the Hill roads the action brought to prevent them from issuing $60,000,000 in additional stocks and bonds. New York Bank Fails New York, March 28-The Corbin Banking Company suspended today. Its assets exceed its liabilities by $1,000,000 and it expects to pay out. Bellingham Supplants Tacoma Tacoma, March 28-Tacoma was dropped from the Northwest Pacitic base ball league today and Bellingham substituted. Tacoma was unable to raise the necessary money to maintain a team. Progress'in Hermann Trial Washington, D. C., March 29-The prosecution concluded the introduction of testimony in the trial of Binger Hermann, former commissioner of the general land office, on the charge of conspiracy to defraud the government, today. The defense will begin next Monday. High Water at Stockton. Stockton, Marca 29-High water prevails here again and people in the lowlands have been driven from home. Much suffering has ensued in consequence. Alaska Differential Abolished Portland, March 29-The differential on Alaska freight from this city to Alaska by way of Puget sound was abolished today by the Northern Pacific.

15. March 30, 1907 Seward Weekly Gateway Seward, AK
Article from Seward Weekly Gateway, March 30, 1907

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Hill Can Issue $60,000,000 Bonds St. Paul, March 28 - The state supreme court today decided in favor of the Hill roads the action brought to prevent them from issuing $60,000,000 in additional stocks and bonds. New York Bank Fails New York, March 28-The Corbin Banking Company suspended today. Its assets exceed its liabilities by $1,000,000 and it expects to pay out.

16. April 4, 1907 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, April 4, 1907

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NEW YORK BANK SUSPENDS. Corbin Company Makes Assignment for Benefit of Creditors. The Corbin Banking Company in New York has assigned for the benefit of creditors to George C. Austin. The two members of the company are George S. Edgell and Austin Corbin. Edgell is president and Corbin vice president of the Manhattan Beach Hotel and Land Company. At the office of the company the following statement was given out: "The assets exceed the liabilities by more than $1,000,000. The principal assets consist of valuable real estate, which could not be sold, except at a sacrifice, in time to meet maturing obligations. The creditors will undoubtedly be paid in full." The Corbin Banking Company was established by the late Austin Corbin, Sr., who was for many years the controlling influence in the Long Island Railroad Company. Mr. Austin said a rough estimate placed the liabilities at $1,700,000 and the assets at $3,000,000. "The assignment was due to the maturing of obligations," said he. "Times are hard and money is high. The company owns 400 acres of land at Manhattan beach and Far Rockaway, which is worth $3,000,000. but it could not be sold under existing conditions for $1,500,000. You cannot get any one to buy real estate at present. There is other valuable real estate in the South and West, bat loans and contracts prevented it from being disposed of."

17. April 4, 1907 The Bamberg Herald Bamberg, SC
Article from The Bamberg Herald, April 4, 1907

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BANK FORCED TO CLOSE. Corbin Company at New York Makes an Assignment. The Corbin Banking company on at New York assigned Thursday for the benefit of creditors to George C. Austin. Two members of the company are George S. Edgell and Aus tin Corbin. Mr. Edgell is president, and Mr. Corbin vice president of the Manhattan Beach Hotel and Land company. Mr. Austin said that a rough estimate placed the liabilities at $1,700,000 and the assets at $3,000, 000.

18. April 9, 1907 Wausau Pilot Wausau, WI
Article from Wausau Pilot, April 9, 1907

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NEW YORK BANK SUSPENDS. Corbin Company Makes Assignment for Benefit of Creditors. The Corbin Banking Company in New York has assigned for the benefit of creditors to George C. Austin. The two members of the company are George S. Edgell and Austin Corbin. Edgell is president and Corbin vice president of the Manhattan Beach Hotel and Land Company. At the office of the company 'the following statement was given out: "The assets exceed the liabilities by more than $1,000,000. The principal assets consist of valuable real estate, which could not be sold, except at a sacrifice, in time to meet maturing obligations. The creditors will undoubtedly be paid in full." The Corbin Banking Company was established by the late Austin Corbin, Sr., who was for many years the controlling influence in the Long Island Railroad Company. Mr. Austin said a rough estimate placed the liabilities at $1,700,000 and the assets at $3,000,000. "The assignment was due to the maturing of obligations," said he. "Times are hard and money is high. The company owns 400 acres of land at Manhattan beach and Far Rockaway, which is worth $3,000,000. but it could not be sold under existing conditions for $1,500,000. You cannot get any one to buy real estate at present. There is other valuable real estate in the South and West, bat loans and contracts prevented it from being disposed of."

19. January 2, 1908 The Greenville Journal Greenville, OH
Article from The Greenville Journal, January 2, 1908

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FINANCIAL to Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. 4-First National bank of Scotland, S. D., close by bank examiner. 8-F. D. Gilman, Indiana banker. sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 2-First National bank of Hicksville, O., closed by comptroller of currency. 5-Fort Dallas National bank of Miami, Fla., closed. 20--Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. it-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 10-H. D. Reynolds' bank of Valdez, Alaska, closed doors. 15-First National bank of Dresden, O., failed. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors. Union Trust Co., of Providence, R. I., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of in'debtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed. 17-Jewelers' National bank at North Attleboro, Mass., in hands of receiver.

20. January 2, 1908 River Falls Journal River Falls, WI
Article from River Falls Journal, January 2, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. 4-First National bank of Scotland, S. D., close by bank examiner. 8-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 2-First National bank of Hicksville, O., closed by comptroller of currency 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 10-H. D. Reynolds' bank of Valdez, Alaska, closed doors. 15-First National bank of Dresden, O., failed. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. 1., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 20-California Safe Deposit & Trust Co. bank, at San Francisco, closed. Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed. United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18--Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver Dec. 2-Chelsea Savings abnk of Chelsea. Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed. 17-Jewelers' National bank at North Attleboro. Mass. in hands of receiver